MEDFORD, ORE. — Marcus & Millichap has brokered the nearly $6.69 million purchase of a 14,820-square-foot Walgreens, a single-tenant, net-leased property located in Medford. With assistance from Tony Cassie, the brokerage firm’s Lior Regenstreif represented the limited-liability-company buyer in the transaction.
Western
PHOENIX — Cassidy Turley BRE Commercial has facilitated the $19.6 million sale of the 454-unit Diamonte on Bell, an apartment complex located at 3202 W. Bell Rd. in Phoenix. The Royal Bank of Canada sold the multifamily property to a company formed by Vancouver, B.C.-based Onni Group. Cassidy Turley’s David Fogler and Steven Nicoluzakis negotiated the all-cash sales transaction.
SCOTTSDALE, ARIZ. — Cassidy Turley BRE Commercial has negotiated the $16.25 million investment sale of the five-building, 177,173-square-foot La Curvata, a Class A office/showroom development located directly across the street from DC Ranch at 18760, 18850, 18940, 19030 and 19120 North Pima Rd. in Scottsdale. Built in 2009, though 73 percent in shell condition, and 27 percent leased at the time of sale, the property was acquired by OPM4 LLC, an Oregon-based company formed by Harvest Development LLC. Cassidy Turley’s Rick Danis, Eric Wichterman, Paul Boyle and Mike Coover negotiated the sales transaction on behalf of Pima Holding Co., which is owned by a collection of five participating banks led by National Bank of Kansas.
SEATTLE METRO — TRECAP Partners LLC has invested more than $63 million in two Seattle-area apartment complexes in separate joint ventures with operating partners. Built in 1985 and 96 percent occupied, Riverstone Apartments is a 308-unit garden-style multifamily complex located in Federal Way, Wash., south of Seattle. Constructed in 1988 and 92 percent leased, Madison Sammamish Apartments is a 266-unit multifamily property located in Sammamish, Wash., east of the Emerald City. For Riverstone, TRECAP took a preferred-equity position in a joint venture with FSC Realty LLP, the previous owner of the property. For Madison Sammamish, TRECAP is joint-venturing with PPC to acquire Capmark’s interest. Investments were made on behalf of a TRECAP-managed fund for institutional investors.
HAYWARD, CALIF. — Colliers International, Oakland, has brokered the acquisition of an approximately 58,000-square-foot warehouse facility located at 3532 Arden Road in Hayward. Terms of the deal were not disclosed. A supplier of top-quality meats to restaurants, grocery stores and retailers, Grand Food, the buyer, will be relocating and quadrupling its footprint. Colliers’ Kevin Hatcher, Mark Maguire and Greig Lagomarsino represented the meat wholesaler in the acquisition, and Lee & Associates’ Craig Hagglund and Jesse Lucas represented the seller.
BOTHELL, WASH. — Marcus & Millichap has brokered the $2.45 million sale of a 31,384-square-foot Rite Aid located at 9700 Northeast 198th Street in Bothell. The brokerage firm’s Dino Christophilis represented both the private-investor buyer and the limited-liability-company seller in the transaction.
PHOENIX — Colliers International has negotiated the $5.1 million sale of the 149-unit Biltmore Center, an apartment community located in Phoenix’s Camelback Corridor at 4341 and 4333 N. 24th Street. Consisting of two adjacent properties built in 1971 and 1982, the multifamily complex offers a mix of studio, one- and two-bedroom units in two- and three-story buildings. Colliers International’s Bill Hahn, Jeffrey Sherman and Trevor Koskovich represented both the buyer and the seller — Scottsdale, Ariz.-based Starpointe Communities and Irvine, Calif.-based CRP Properties LLC, respectively — in the all-cash, REO transaction.
CHANDLER, ARIZ. — Marcus & Millichap has brokered the $2.1 million sale of a 5,687-square-foot IHOP, located at 935 West Elliot Road in Chandler. The brokerage firm’s Jamie Medress and Mark Ruble represented the developer/seller of the single-tenant, net-leased property.
EAST WENATCHEE, WASH. — Hendricks & Partners has closed the $2 million sale of the 50-unit Valley Manor Apartments, located in Douglas County at 815 N. Baker Avenue in East Wenatchee. Built in 1995, the multifamily property consists of 16 two-bedroom, 24 three-bedroom and 10 four-bedroom units. Hendricks & Partners’ Robert DiPietrae represented the East Wenatchee Housing Limited Partnership of Bellevue, Wash., in its disposition of the Central Washington property to Seattle-based Valley Manor ICG LLC.
RIVERSIDE, CALIF. — Grubb & Ellis has brokered the $10.5 million purchase of a 175,000-square-foot Class A distribution facility, located at 900 S. Dupont Ave. in Riverside. Aviar Investments LLC, dba Innova Champion Discs, plans to immediately begin using approximately 50 percent of the property for its corporate headquarters and distribution needs. Grubb & Ellis’ Roger Rhoades represented Aviar, the buyer, in the transaction, and Jones Lang LaSalle’s Mike McCrary and Ruben Goodsell represented the seller, Principal Life Insurance.